Digital subscription results of AS Ekspress Grupp for the first quarter of 2024

    Digital subscription results of AS Ekspress Grupp for the first quarter of 2024

The total number of digital subscriptions of AS Ekspress Grupp increased by 31% in the Baltic States year-over-year (1^st quarter: 2%) and totalled 210 999 at the end of March.

• The number of digital subscriptions of AS Delfi Meedia that publishes the news portal Delfi, newspapers Eesti Päevaleht, Maaleht, Eesti Ekspress and several popular magazines increased by 11% year-over-year (1^st quarter: 0%) and totalled 102 629.
• The number of digital subscriptions of AS Õhtuleht Kirjastus, 50% of which is owned by Ekspress Grupp, increased by 10% year-over-year (1^st quarter 6%) and totalled 26 404.
• The number of digital subscriptions of Geenius Meedia OÜ increased by 25% year-over-year (1^st quarter 8%) and totalled 7575.
• In Latvia, the number of digital subscriptions of Delfi A/S increased by 48% year-over-year (1^st quarter -4%) and totalled 25 329.
• In Lithuania, the number of digital subscriptions of Delfi increased by 86% year-over-year (1^st quarter: 1%) and totalled 40 310.
• The Lithuanian media portal Lrytas started selling paid content in the 4^th quarter of 2023. Its number of digital subscriptions increased by 38% in the first quarter and totalled 8752 at the end of March.

Comments by the Chairman of the Management Board of Ekspress Grupp, Mari-Liis Rüütsalu:

“The number of digital subscriptions continued their rapid year-over-year growth: the number of digital subscriptions of the media publications of Ekspress Grupp increased approximately by a third in the Baltic States, while the Lithuanian market where Delfi’s results improved by as much as 86% in a year experienced the fastest growth. The number of Delfi’s subscribers in Latvia also increased strongly, i.e. by almost half. These results demonstrate that similarly to Estonia, the digital subscription model is becoming well-established on the Latvian and Lithuanian markets.

In a quarterly comparison, the increase in the number of Delfi’s subscribers was lower in all Baltic States as the growth stalled due to the expected correction following the big marketing campaigns organised at the end of last year. In the first quarter, Õhtuleht and Geenius Meedia in Estonia and Lrytas in Lithuania increased the number of digital subscribers the most.”

Detailed overview of digital subscriptions

	31.03.2024	31.12.2023	change	31.03.2023	change
AS Delfi Meedia	102 629	102 793	0%	92 339	11%
AS Õhtuleht Kirjastus	26 404	24 875	6%	24 100	10%
Geenius Meedia OÜ	7 575	6 998	8%	6 058	25%
Delfi AS (Latvia)	25 329	26 427	-4%	17 153	48%
Delfi UAB (Lithuania)	40 310	39 872	1%	21 628	86%
Lrytas UAB (Lithuania)	8 752	6 363	38%	-	-
Total Ekspress Grupp	210 999	207 328	2%	161 278	31%

The Group considers only the subscriptions with the value of more than 1 euro per calendar month that are separately invoiced and separately cancellable at any given time as digital subscriptions.

Digital subscription revenue makes up an increasingly larger share of the digital revenue base of Ekspress Grupp. We are moving in the direction of the Group's long-term goals of increasing the volume of digital subscriptions to 340 000 subscribers in the Baltic countries by the end of 2026. The long-term goals of Ekspress Grupp were established and disclosed at the beginning of 2022.

Argo Rannamets
CFO
AS Ekspress Grupp
Email: [e-mail]

AS Ekspress Grupp is the leading Baltic media group whose key activities include web media content production, and publishing of newspapers, magazines and books. The Group also operates an electronic ticket sales platform and ticket sales offices and offers outdoor screen service in Estonia and Latvia. Ekspress Grupp launched its operations in 1989 and employs almost 1100 people.